Xiaomi to expand its television range in India

KOLKATA: Xiaomi is going to expand its television range in India and continue with aggressive pricing by capping net profit margin at 5% for televisions like it has done for smartphones, a company spokesperson said.

The company will also start selling its Mi TV range through brick-and-mortar multi-brand stores by Diwali apart from the exclusive Mi Home stores and online, a senior industry executive said. At present, Xiaomi has three smart TV models in India of screen sizes of 32, 43 and 55 inches.

“Xiaomi India is definitely looking at offering more innovative line-up of products for its Mi Fans and customers across India to truly enjoy the best of smart technology at an honest pricing,” the spokesperson said.

“Following our honest pricing promise, all our hardware sales have been capped at a net profit margin of only 5% thereby allowing to ensure our customers enjoy the best of our innovative offerings at a truly accessible rate,” the company spokesperson said.

Xiaomi spokesperson added that the smart TV industry in India will see higher growth with a brand like Xiaomi driving innovation just like it did for smartphones by providing unique user experience and making it accessible at an honest price.

Xiaomi’s 55 inch smart TV is sold at Rs 44,999, while 43 inches smart TV at Rs 22,999 and 32 inches at Rs 13,999. The company had redefined smart TV pricing in India which forced not just the large brands but even the price aggressive online television brands to further drop prices.

The company is targeting mostly consumers aged between 18-40 years for the TV business in India. The spokesperson said buying a TV is often a family decision.

“Our Mi Fans also play a crucial role in driving purchase decisions for our Mi TV’s. Majority of our Indian consumer segment are comprised of millennial who also tend to be more open to experiencing smart technology, we see a similar pattern in Xiaomi’s consumer groups who mostly tend to be young adults between 18 - 40 years of age. Similarly, consumers in India these days also look for various content that is readily available right out of the box,” the spokesperson said.

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